{"id":461705,"date":"2021-04-20T05:08:53","date_gmt":"2021-04-20T05:08:53","guid":{"rendered":"https:\/\/wncen.com\/?p=461705"},"modified":"2024-06-11T13:55:06","modified_gmt":"2024-06-11T13:55:06","slug":"ethereum-resumes-decline-2k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-resumes-decline-2k\/","title":{"rendered":"TA: Ethereum Resumes Decline, Here\u2019s How The Bears Could Take Control"},"content":{"rendered":"
Ethereum failed to recover above the $2,300 resistance zone against the US Dollar. ETH price is moving lower and it is likely to accelerate lower below the $2,000 support.<\/em><\/p>\n Ethereum started a short-term recovery wave above the $2,100 level. ETH broke the $2,200 resistance level, but the bulls struggled to gain strength, similar to bitcoin<\/a>.<\/p>\n It faced a strong selling interest near the $2,280 and $2,300 levels. A high was formed near $2,281 before the price started a fresh decline. It broke the 50% Fib retracement level of the upward move from the $1,953 swing low to $2,281 high.<\/p>\n It is now trading well below $2,200 and the 100 hourly simple moving average<\/a>. There is also a major bearish trend line forming with resistance near $2,180 on the hourly chart of ETH\/USD.<\/p>\n <\/a><\/p>\n An immediate support is near the $2,040 level. It is near the 76.4% Fib retracement level of the upward move from the $1,953 swing low to $2,281 high. A downside break below the $2,040 level may possibly open the doors for more losses. The next major support is near the $2,000 level, below which the price could dive towards the $1,920 and $1,900 levels.<\/p>\n If Ethereum stays above the $2,040 and $2,000 support levels, it could start a fresh increase. An initial resistance on the upside is near the $2,150 level.<\/p>\n The first major resistance is now forming near the trend line and $2,160. A clear break above the trend line resistance could lead the price towards the main $2,280 resistance and the 100 hourly simple moving average. Ether must settle above $2,280 and $2,300 to move back into a positive zone in the coming days.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly gaining momentum in the bearish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is now well below the 50 level.<\/p>\n Major Support Level \u2013 $2,040<\/p>\n Major Resistance Level \u2013 $2,160<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum failed to recover above the $2,300 resistance zone against the US Dollar. ETH price is moving lower and it is likely to accelerate lower below the $2,000 support. Ethereum failed to move above the $2,300 zone and started a fresh decline. The price is now trading well below $2,200 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $2,180 on the hourly chart of ETH\/USD (data feed via Kraken). The pair is likely to break the $2,000 support and continue lower in the near term. Ethereum Price Is Declining Ethereum started a short-term recovery wave above the $2,100 level. ETH broke the $2,200 resistance level, but the bulls struggled to gain strength, similar to bitcoin. It faced a strong selling interest near the $2,280 and $2,300 levels. A high was formed near $2,281 before the price started a fresh decline. It broke the 50% Fib retracement level of the upward move from the $1,953 swing low to $2,281 high. It is now trading well below $2,200 and the 100 hourly simple moving average. There is also a major bearish trend line forming with resistance near $2,180 on the hourly chart of ETH\/USD. Source: ETHUSD on TradingView.com An immediate support is near the $2,040 level. It is near the 76.4% Fib retracement level of the upward move from the $1,953 swing low to $2,281 high. A downside break below the $2,040 level may possibly open the doors for more losses. The next major support is near the $2,000 level, below which the price could dive towards the $1,920 and $1,900 levels. Upsides Limited in ETH? If Ethereum stays above the $2,040 and $2,000 support levels, it could start a fresh increase. An initial resistance on the upside is near the $2,150 level. The first major resistance is now forming near the trend line and $2,160. A clear break above the trend line resistance could lead the price towards the main $2,280 resistance and the 100 hourly simple moving average. Ether must settle above $2,280 and $2,300 to move back into a positive zone in the coming days. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now well below the 50 level. Major Support Level \u2013 $2,040 Major Resistance Level \u2013 $2,160<\/p>\n","protected":false},"author":67,"featured_media":461707,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[1946,8686,78803],"class_list":["post-461705","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n\n
Ethereum Price Is Declining<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Upsides Limited in ETH?<\/h2>\n